Govt raises Rs776bn through T-bills

November 13, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs775.82 billion.

The target was to raise Rs800bn while the maturity amount was Rs1.007 trillion.

Cut off yields stood at 13.7000% (-20bps) for 3 months, 13.4999% (unchanged) for 6 months, and 13.1999% (+10bps) for 12 months.

Compared to the secondary market, the cut off yields were higher by 47bps, 36bps, and 17bps, for 3, 6, and 12 T-bills, respectively.

Total amount offered was Rs1.84tr, with the SBP receiving bids worth Rs822.8bn for 3 months, Rs377.39bn for 6 months, and Rs644.03bn for 12 months.

Out of this, SBP accepted Rs289.59bn for 3 months, Rs140.28bn for 6 months, and Rs270.03bn for 12 months.

In addition, the central bank picked up Rs75.92bn from the non-competitive auction, making the total amount accepted Rs775.82bn.

To note, the central bank in the last auction held on October, 2024 sold MTBs worth R820bn against a target of Rs400bn.

Cut-off yields for 3, 6, and 12 months were 13.8998%, 13.5%, and 13.0997%.

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